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Estimating Duality Models with Biased Technical Change: A Time Series Approach

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  • J. Stephen Clark
  • Curtis E. Youngblood

Abstract

Technical change is an omitted variable in econometric models which estimate technical change biases with no direct measure of this variable. Modeling technical change as a deterministic time trend is a restrictive representation that may be inconsistent with the type of nonstationarity of the other model variables. We used a time-series approach to estimate a cost function for central Canada and found that factor shares, prices, and output are cointegrated, implying that technical change is neutral. In contrast, estimating the system with a time trend as a technical change measure leads one to conclude inappropriately that technical change biases exist.

Suggested Citation

  • J. Stephen Clark & Curtis E. Youngblood, 1992. "Estimating Duality Models with Biased Technical Change: A Time Series Approach," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 74(2), pages 353-360.
    • Handle: RePEc:oup:ajagec:v:74:y:1992:i:2:p:353-360.
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    File URL: http://hdl.handle.net/10.2307/1242489
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